SoFi Technologies (SOFI) – Investment Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of SoFi Technologies (NASDAQ: SOFI) in the last few weeks:

  • 5/17/2022 – SoFi Technologies had its price target lowered by analysts at Mizuho from $14.00 to $9.00. They now have a “na” rating on the stock.
  • 5/16/2022 – SoFi Technologies was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $10.00 price target on the stock, down previously from $12.00.
  • 5/12/2022 – SoFi Technologies had its price target lowered by analysts at Citigroup Inc. from $17.00 to $11.00.
  • 5/11/2022 – SoFi Technologies had its price target lowered by analysts at Credit Suisse Group AG from $15.50 to $9.50.
  • 5/10/2022 – SoFi Technologies had its price target lowered by analysts at Bank of America Co. from $12.00 to $7.00.
  • 5/4/2022 – SoFi Technologies was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “SoFi Technologies Inc. provides consumer-focused financial technology platform. SoFi Technologies Inc., formerly known as Social Capital Hedosophia Holdings Corp. V, is based in PALO ALTO, Calif. “
  • 4/8/2022 – SoFi Technologies had its price target lowered by analysts at Citigroup Inc. from $20.00 to $17.00.
  • 4/7/2022 – SoFi Technologies had its price target lowered by analysts at Oppenheimer Holdings Inc. from $18.00 to $13.00. They now have an “outperform” rating on the stock.
  • 4/7/2022 – SoFi Technologies had its price target lowered by analysts at Mizuho from $17.00 to $14.00. They now have a “buy” rating on the stock.
  • 4/7/2022 – SoFi Technologies had its price target lowered by analysts at Bank of America Co. from $14.00 to $12.00.
  • 4/7/2022 – SoFi Technologies had its price target lowered by analysts at Wedbush from $20.00 to $15.00.
  • 4/5/2022 – SoFi Technologies is now covered by analysts at Moffett Nathanson. They set a “buy” rating and a $13.00 price target on the stock.

NASDAQ:SOFI traded up $0.38 during mid-day trading on Wednesday, hitting $7.10. The stock had a trading volume of 1,160,795 shares, compared to its average volume of 60,709,668. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -8.66 and a beta of 0.90. The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt-to-equity ratio of 0.94. The company has a 50 day simple moving average of $7.67 and a 200-day simple moving average of $11.98. SoFi Technologies, Inc. has a 52 week low of $4.82 and a 52 week high of $24.95.

SoFi Technologies (NASDAQ:SOFIGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative net margin of 36.32% and a negative return on equity of 9.24%. The firm had revenue of $321.70 million during the quarter, compared to analysts’ expectations of $283.99 million. The firm’s revenue for the quarter was up 48.9% compared to the same quarter last year. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post -0.45 earnings per share for the current year.

In other SoFi Technologies news, CEO Anthony Noto purchased 37,056 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $6.72 per share, with a total value of $249,016.32. Following the acquisition, the chief executive officer now directly owns 3,276,895 shares of the company’s stock, valued at approximately $22,020,734.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harvey M. Schwartz purchased 15,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $6.50 per share, with a total value of $97,500.00. Following the acquisition, the director now directly owns 229,852 shares in the company, valued at $1,494,038. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 163,196 shares of company stock valued at $1,323,480. 35.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balyasny Asset Management LLC bought a new position in shares of SoFi Technologies in the third quarter worth $12,982,000. CAPROCK Group Inc. boosted its stake in shares of SoFi Technologies by 324.0% during the fourth quarter. CAPROCK Group Inc. now owns 295,207 shares of the company’s stock valued at $4,667,000 after purchasing an additional 225,579 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $4,031,000. FNY Investment Advisers LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $79,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SoFi Technologies by 4.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,844 shares of the company’s stock valued at $835,000 after purchasing an additional 2,171 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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